Ultra Rich Drive Top-Tier Home Prices Higher, and More

3/5/2014 11:39AM

What’s News: New study shows that the superrich are buying up top-tier homes and pushing up prices globally. Pope Francis open to greater role for women in Catholic Church. ADP: U.S. businesses add private-sector jobs at very modest pace in February. Joanne Po reports. Photo: Knight Frank

This transcript has been automatically generated and may not be 100% accurate.

... the letter of rich are getting richer and buying up fancy homes and pushing up prices ... this is what's news I'm WS J last I'm Joann Co ... a new global study of ultra high net worth individuals by real estate broker Knight Frank ... shows and direct correlation to the start rising house prices ... in the most desirable parts of the cities across the world ... after years of retreating to a relatively small number of civil cities like mind in ... New York City in Vancouver post financial crisis ... that data suggests ... that the Brits are spreading out again ... investing in more homes ... more globally ... six of the ten cities with the pig is average price gains were in the Asia Pacific region with Jakarta on top with a thirty percent gain ... in North America Los Angeles me the top fifty list ... posting a fourteen percent rise in top tier home prices ... Pope Francis is open to a greater role for women in the Catholic Church ... in an interview with Italian and Argentine in news papers ... the Pope says that we really could have greater decision making powers in the church's hierarchy ... he also said the church must offer and the answer to divorced Catholics ... and their families Pope Francis is also rolling out a major change in the doctrine to the topic of birth control ... but he did the door open slightly on a possible new approach ... to the controversial issue ... U S businesses added jobs in February but had very modest pace ... the latest survey by Automatic Data Processing shows ... that private sector payrolls in the U S increased by a hundred and thirty nine thousand jobs last month ... that's below the consensus estimate of one hundred and sixty thousand new jobs ... ADP also revising January's numbers cutting the increased two hundred and twenty seven thousand jobs from one hundred and seventy five thousand is like that at the ADP numbers that data is not likely to move analysts to change their forecasts for Friday's widely watched U S employment report ... today Friday eight thirty am Eastern time for live coverage of the jobs report released as well as in sync now says Frank here and the beest dot CA ... bookie keep us anomaly this is about as rapid and what's news I'm WS J last I'm Joann Co ...